Wins and losses in super rule changes

One door closes, another opens, even when it comes to superannuation. While the May budget will almost certainly tighten the rules again – and neither side of politics has ruled out more changes down the track – some have been loosened.

The penalty for exceeding the $25,000 salary sacrifice cap is being waived for first offenders within an over-payment of $10,000, while selffunded retirees who accidentally under-pay their super pension have been given a leeway of 8.3 per cent by the Australian Taxation Office [but it must "not exceed one-twelfth of the minimum pension" in its words] before penalties apply.

But if the rules are going to change for the worse, what should you be doing?

Nerida Cole

Managing Director, Head of Advice

Nerida is a highly respected expert on superannuation, including self managed super funds (SMSF), retirement planning and wealth-building strategies. Through her role she works closely with Executive Chairman Daryl Dixon, Director of Quality Management Stephen Bone and the Compliance team to keep the firm’s financial strategies at the forefront of the latest legislative requirements.

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